Sylvamo’s (SLVM) “Underperform” Rating Reiterated at Bank of America

Sylvamo (NYSE:SLVMGet Free Report)‘s stock had its “underperform” rating restated by equities researchers at Bank of America in a research report issued on Wednesday,Benzinga reports. They currently have a $96.00 price objective on the stock. Bank of America‘s price target indicates a potential upside of 7.27% from the company’s current price.

Separately, Sidoti began coverage on shares of Sylvamo in a research report on Tuesday, October 15th. They issued a “buy” rating and a $100.00 price objective on the stock.

Read Our Latest Stock Analysis on SLVM

Sylvamo Stock Performance

SLVM stock opened at $89.50 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.67 billion, a PE ratio of 13.92 and a beta of 1.08. The business has a 50 day moving average of $87.37 and a 200-day moving average of $78.33. Sylvamo has a 12-month low of $44.94 and a 12-month high of $98.02.

Sylvamo (NYSE:SLVMGet Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.26. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.47 million. Sylvamo had a return on equity of 30.60% and a net margin of 7.13%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.70 EPS. As a group, sell-side analysts expect that Sylvamo will post 7.06 earnings per share for the current year.

Institutional Investors Weigh In On Sylvamo

Several large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Sylvamo by 62.5% during the 2nd quarter. CWM LLC now owns 408 shares of the company’s stock valued at $28,000 after acquiring an additional 157 shares during the period. Independence Bank of Kentucky increased its position in shares of Sylvamo by 6,733.3% during the second quarter. Independence Bank of Kentucky now owns 410 shares of the company’s stock valued at $28,000 after buying an additional 404 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Sylvamo by 116.6% in the third quarter. Fortitude Family Office LLC now owns 444 shares of the company’s stock worth $38,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Sylvamo by 59.0% in the third quarter. GAMMA Investing LLC now owns 461 shares of the company’s stock valued at $40,000 after acquiring an additional 171 shares during the period. Finally, Fifth Third Bancorp grew its stake in Sylvamo by 149.3% during the second quarter. Fifth Third Bancorp now owns 506 shares of the company’s stock valued at $35,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.

About Sylvamo

(Get Free Report)

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.

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